CIO Insider

CIOInsider India Magazine

Separator

Oliveboard Raises Rs.23 Crore in a Series A Funding Round

CIO Insider Team | Monday, 12 July, 2021
Separator

Bangalore based edtech platform belonging to the preparation of competitive exams domain, Oliveboard has raised Rs.23 crore in a Series A funding led by Indian Angel Work (IAN) Fund, along with the participation of Education Catalyst Fund (ECF) and Yukti Securities.

With this funding, the edtech platform hopes to raise its number of national level courses, exams including the addition of state-level categories. Then, the edtech platform plans to invest in technology for interactive data driven products, which will enable individuals to receive more personalized learning at a more granular level.

Founded by Abhishek Patil and V Satish Kumar, the edtech platform targets aspiring students and delivers affordable and high-quality coaching to graduates preparing for government jobs. The edtech platform was formed in 2015, after the respective founders identified a huge gap in accessing quality coaching and exam preparation for government and quasi government occupations in tier II and III cities.

For intelligent learning, the edtech platform deploys data driven approach and equips aspirants with live classes, practice tests, live practice sessions, remedial material, and other forms of interactive information.

Patil added that, “our main objective is to provide each learner with data-driven individualized tutoring depending on their test preparation levels. We are well-positioned to smoothly expand our products into other emerging and lesser-served exam categories, based on our success in the Banking & Insurance exam area. We appreciate IAN Fund, ECF, and Yukti Securities' trust and support”

“In India, the market for government job entrance exam preparation is estimated to be worth over INR 400 billion. Before March 2020, offline coaching institutes occupied a big percentage of this market, and the pandemic has accelerated the adoption of online solutions. The demand for test preparation has been spurred by the increasing internet penetration in tier-II and tier-III cities across the country, and this market is expected to rise”, said Sudipta Gautam, managing partner, IAN Fund.

“We're excited to see how EdTech businesses like Oliveboard are merging educational knowledge with technology to assist thousands of hopefuls prepare for government jobs”, expressed Gautam.

Currently, the edtech platform offers 50 government exams. Furthermore, it plans to add over 100 other national and state-level tests to its portfolio in the coming years.

Oliveboard has over Eight million users spread throughout 2,500 cities and towns in India.
“There is no such thing as a one-size-fits-all solution. We use a customized learning strategy that provides candidates prepare for government exams with ease and flexibility” stated Abhishek Patil, co-founder, Oliveboard.

Patil added that, “our main objective is to provide each learner with data-driven individualized tutoring depending on their test preparation levels. We are well-positioned to smoothly expand our products into other emerging and lesser-served exam categories, based on our success in the Banking & Insurance exam area. We appreciate IAN Fund, ECF, and Yukti Securities' trust and support”.

Current Issue
VKRAFT Software Services: Pioneering Innovation In Integration & Beyond